Beissner, Patrick; Denis, Laurent
Any dynamic or stochastic notion of a general equilibrium relies on the underlying commodity space. Under sole risk and without multiple-prior uncertainty, the usual choice is a Lebesgue space from standard measure theory. In the case of volatility uncertainty it turns out that such a type of function space is no longer appropriate. For this reason we introduce and discuss a new natural commodity space, which can be constructed in three independent and equivalent ways. Each approach departs...[Show more]
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